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CNBC
Apr 16, 2010 6:00am EDT
be said of fellow component bank of america. this has been marching right towards $20 where it hasn't been also since november 2008. both these companies were filled by the same sort, of that financial crisis. bank of america said to report before the bell, as well. we're looking for around 7:00 this morning for those numbers to come out. revenues of nearly $28 billion. and the shares, as we mentioned, they've been on a run, really pushing higher, up about 5% this week alone. coming up at 7:15 eastern time, we've got bank of america ceo brian noin na hamoynihan. because bank of america is the nation's largest bank, it tas talk to one of every two consumers. >> you're not doing business with bank of america? >> they bought my mortgage. >> but you don't -- that's not your bank? >> it's not where i have my deposits, but they own my mortgage, so i am doing business with them. >> well, then it's two out of two. >> but there's two other people at the table. maybe they have it. >> do you have bank of america? >> i think it's not bank of america. still, i have no deposits there and i don't know if
CNBC
Apr 19, 2010 6:00am EDT
opportunity ultimately. they're certainly going to look at other banks. bank of america, merrill lynch was a huge underwriter on this, so were the others. so some of these knock-on trades, people selling gold because they think paulson was involved in this and he's going to have to liquidate gold, are in my mind really overblown. >> you don't think it's a justifiable reason for investors to flee risk assets? >> i don't at all. we had earnings that were knocking the cover off the ball. bank of america turned a profit. we've got other guys coming up this week so we're right in the spate of earnings, big surprises. volatility, when we look at how is the market treating risk prior to this announcement, it was, you know, volatility was collapsing. we were talking about outright money coming in to the marketplace. volatility going to zero. and this market going to the moon. >> can regulators, can they overregulate? is it possible that this financial reform bill could go so far as to crimp the -- crimp wall street and to crimp, you know, the stock market in general? because long-term, i mean,
CNBC
Apr 20, 2010 6:00am EDT
has passed its toughest test. >> no longer a financial super market, now citi calls itself america's global bank. with more than 200 million clients in over 140 countries, with it's emerged on leveraging this footprint. on the retail side, this means narrowing its focus on the world's affluent population. >> a couple of years ago, citi was playing in a lot of different consumer sandboxes, which is included consumer finance, some of the lower end of the credit quality scale. now they're much more focused on kind of that higher image, which i think really fits kind of their business model better and is a more stable way to take advantage of that international platform. >> on the commercial side, citi believes its long history in developing economies like india and brazil makes it the go-to banker for corporate clients. this new citi is not only more focused, but slimmer. its retail brokerage operations smith barney now in a joint venture with morgan stanley prompted a split last year. citi held up to sell noncore@assets including its student loan portfolio and other consumer finance
CNBC
Apr 15, 2010 6:00am EDT
, general electric, bank of america rounding out at least the top five. >> what is the basis? >> market cap and other stuff. in about 20 members, we'll be talking to the editor of the paper who can tell us how they weigh weigh these things. >> yes. it's a cap because here -- >> well, lee gallagher will be with us in a few minutes. so there is proprietary issues in there. >> sure, or elsewhere would we wait for them to announce? >> we've done this list every year. but since you brought it up, we do have a column -- and what is your latest column about? >> can i -- does that work for me? >> oh, the futures is in the? this one is really interesting. welch, buffett, dimon all saying that thefz a -- >> jamie today, right? good picture of him. he's going like this. it's family. it's good. check it out. >> some other interesting statistics, general motors is out of the top ten for the first time ever. home builders are off the list entirely. >> speaking of that, foreclosure rates are surging, hitting record numbers in the first quarter. foreclosure rates surged, and that includes nicholas cage, as
CNBC
Apr 14, 2010 6:00am EDT
, that's congresswoman carolyn maloney. >>> when we return, we'll be talking more about taxing america. it's just one day left to file your taxes. so are you prepared? if not, maybe the ceo of h&r block can help you. he'll be our guest in just a few minutes. stay tuned. "squawk box" will be right back. hi, ellen! hi, ellen! hi, ellen! hi, ellen! we're going on a field trip to china! wow. [ chuckles ] when i was a kid, we -- we would just go to the -- the farm. [ cow moos ] [ laughter ] no, seriously, where are you guys going? ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! [ female announcer ] the new classroom. see it. live it. share it. on the human network. cisco. >>> all right. the markets right now, as you saw, are indicated higher. a lot of that is because of what we saw from jpmorgan chase this morning. right now those dow futures are up by about 30 points above fair value. jpmorgan chase is called higher after the firm reportedly -- reported that quarterly
CNBC
Apr 22, 2010 6:00am EDT
perfectly. but it's the best that's ever happened across america. >> if one person takes over and then another person agrees to take over, you get the excess that added to what happened, but didn't cause what happened. >> you have a mortgage lender willing to give a no doc loan. the homeowner is willing to take it. somebody needs to step in and say, you two aren't allowed to play with each other. that's dangerous for all of us. >> this is the age old argument about where capital is better off. never never going to settle this argument and that's my only point. if uj the deposit is a good allocator -- >> we'll see how target takes it. how about that? >> it doesn't matter. >> if we could solve it, what will be news. >> that's a very good tease. when we come back, we will tell you the solution to all problems with our society. anyway, whether we come back, we're going to be talking more about the quiet week we've had for economic data climbs. ppi and existing home sales are up today. and as we head to a break, let's take a look at yesterday's winners & losers. >>> welcome back. l
CNBC
Apr 23, 2010 6:00am EDT
and take. >> liberties. but you can't incite the united states of america. you've got to not throw the baby out with the bath water. >> you're not suggesting if there's wrongdoing taking place it should be ignored. >> to the contrary. there's wrongdoing taking place. but it's very difficult to stop the pendulum in the middle of the swing and not saying that this isn't going to go whole hog. right now, you've goot a clear thing. government is good. government is going to fix this. i don't believe it. government is good, markets are bad. that is not where i grew up. >> let's bridge in our task force right now, joining us now from nomura securities, david wrestler. also from wbj capital group, scott fullman. gentlemen, you've been listening to this conversation around the table. you've got the goldman situation, the greek situation, what is going to be the thick that traders are focusing on? >> traders will be focusing on earnings. we've seen that. we've seen that the market has turned around and been resilient. reacting to the goldman news last week, the markets went down but came back up. an
CNBC
Apr 9, 2010 6:00am EDT
and bank of america. trades by an average of 42% at the end of each period. i thought everybody knew this. >> are you shocked? >> no. i thought this was standard operating procedure. >> right. >> but you know, they're supposed to be a little better behaved these days, right? >> well, i wonder. we're going to get jpmorgan starting next week. will they get away with it next week? >> the real question is, from a disclosure perspective, should they be required to show what their average is? there's no question that i think everybody knows at the end of the quarter, they always bring it down. it's a snapshot. but the question is, should they be required to disclose their average or the median number in addition to the end of the quarter number because then you would have a more realistic view. >> it should, but i think they're going to cry tmi, too much information, right? no. a snapshot is good enough. >> making a lot of news, the big story in the investing section of the judicial this morning, meantime, top fed officials closed as rates donald kohn says a gradual u.s. at the same time as tam
CNBC
Apr 21, 2010 6:00am EDT
market because of the build america bonds. if you're a straight treasure and you say, gee, i need to issue some bonds, should i use bonds that are going to give me a 35% rebate from the federal government or not? well, duh, you would get the rebate. and so we see a shrinking muni market, increasing demand and credit quality is not what you think it is. >> marilyn, thank you very much for coming in. we appreciate it. >> thank you. >> if you have questions or comments about anything you see here on squawk, e-mail us at squawk@cnbc.com. we'll take a quick break now. we've got some headlines lighting up the squawk news line. inside and outside the world of business. then we'll have -- we're going to beam ourselves over to the chairs. how is that? i made that up myself. what will i be talking about? what could he mean? we have to stay tuned. we'll be back. >>> good morning. i'm no more monica novotny over at msnbc. authorities lifted a ban on flights in .out of xwlnd's busiest airports last night after volcanic ash from iceland kept planes on the ground there for nearly a week. but it
CNBC
Apr 13, 2010 6:00am EDT
in america. you can see the restaurant has sharply outperformed. >>> consumer reports issued a rollover risk warnings on toyota's 2010 lexus gx 460 and urging buyers to stop buying that vehicle. phil lebeau will join us on the phone with more. how significant is this and how often does consumer reports put out a don't buy warning? >> this is highly, highly unusual. consumer reports has not put out a don't buy warning since 2001. back then it was the mitsubishi montero. what's involved with this warning is consumer reports looking at the results of potential side rollover crash tests at the consumer reports facility in connecticut. after having four auto engineers look at those results, they have come to the conclusion that in real world conditions there's a potential for the gx-460 to flip over before the electronic stability control kicks in. toyota is quick to point out, we meet all federal safety guidelines. we want to look at the result from the reports and then based on that we'll see if we need to make any modifications to the gx 460. it is worth pointing out this is a low volume vehic
CNBC
Apr 2, 2010 6:00am EDT
. there's still a lot of -- the one good thing on the sovereign thing i think for america is we've peaked on unemployment rate. we've probably peaked in march in terms of debt issues. march is likely to be -- and there may also be good news that comes through -- there has been good news from tax receipts, which is another good economic barometer. april is the decisive -- >> one thing that hasn't kicked in is an i.t. spending cycle. if tayou talk to people in silin valley, look at steve's laptop. how old is that? >> look at this. >> that is probably seven years old. >> right. >> i'm telling you there's a lot of those pieces out there -- >> you know what? it works great. >> i just left it there, carl. thank you. >> carl, when you said sovereign debt, shocks to the system, can they derail us, some surprise? it depends on where you are in the cycle. if you're at this stage where it's self-sustaining and revving, you can take a hit and it doesn't derail you. that's a -- >> so we don't have to pay any more attention to washington? >> not by a long shot. >> i think's a distraction for the near t
CNBC
Apr 26, 2010 6:00am EDT
that. >> i didn't know that. >> bank of america reportedly 23450ering a decision on naming a new chairman. "the wall street journal" says that the firm has narrowed the contenders down to two directors, either frank bramble or chad holliday. bramble is a former vice chairman of nbna. bank of america bought the credit card issuer back in 2006. holliday served as head of du pont. he's the favorite at this point. a decision is expected on wednesday. after the bank's shareholder meeting. neither bramble nor holliday are expected to change the strategy of ceo brian moynihan. >> we've had chad in. he's been on a lot. >> yes. >> friend of the show. been right here in studio. in other corporate headlines, united airlines and continental reportedly failing to agree on a price for a potential stock for stock merger. last week the two were said to be considering a merger with no premium, which would create a company valued at roughly $6.6 billion. "the new york times" reports that continental wants to use the prices before reports of the potential merger came out. meantime, united wants to
CNBC
Apr 29, 2010 6:00am EDT
growth in both north america, western europe and japan with both western europe and japan slightly below the u.s. >> we had you on many times. i watch the stock and i have no idea what's going to happen by the end of the day. you were at 63. almost at a high. 64.58. by the end of the day you never know. >> we focus as you know on running and growing the company and we let others worry about the stock price. >> i know. and a find midwestern town of cincinnati. we realize that. >> i wouldn't mind mine matching his numbers. that would be good. >> thank you. appreciate your time this morning. see you next quarter. >> coming up, we'll have more of this morning's top stories and a programming note for you. join us tomorrow where we will report live from the qwest center, that's the site of the berkshire hathaway meeting. on monday the oracle of omaha joins us live for an hour. this will be his first live interview after the shareholder meeting. 8:00 a.m. eastern time monday. send in questions if you have any for him. that's monday morning here on "squawk box." >>> welcome back. china's four bi
CNBC
Apr 6, 2010 6:00am EDT
the country can use new economic arms, herald further cuts in america's stockpile. but he is expected to make clear that nuclear dee phiance states like iran and north korea will aim potential targets. the president will sign a landmark arms control treaty with russia in prague on thursday and he'll host a nuclear summit next week. a lot of geopolitical stuff going on. we were talking about so many domestic issues with health care and so forth, but the pictures got broader in the last couple of weeks. >> and once health care was done, he made it clear that he was going to expand its view beyond the borders. >> but that's what this is. the health care thing has loud them to do all these things that they couldn't do. they were still on a victory parade around the world, don't you think? >> having that out of their way, yes. >> all of these things, i think. going to india, was he going to india before? i don't know. can he pull that off in a whole different way? absolutely. >> let's check on the markets so far this morning, show you the futures and see if we can continue the move higher. right n
CNBC
Apr 8, 2010 6:00am EDT
here to prague and gave a speech outlining america's comprehensive commitment to stopping the spread of nuclear weapons and seeking the ultimate goal of a world without them. i said then and i will repeat now that this is a long-term goal. one that may not even be achieved in my lifetime. but i believed then, as i do now, that the pursuit of that goal will move us further beyond the cold war, strengthen the global nonproliferation regime and make the united states and the world safer and more secure. one of the stepses that i called for last year was the relation of this treaty. so it's very gratifying to be back in prague today. i also came to office committed to resetting relations between the united states and russia. and i know that president medvedev shared that commitment. as he said at our first meeting in london, our relationship had started to drift, making it difficult to cooperate on issues of common interest to our people. and when the united states and russia rnts able to work together on big issues, it's not good for either of our nations, nor is it good for the world.
CNBC
Apr 5, 2010 6:00am EDT
. >> a green economy, carl. it's coming. hotel -- extended stay america reportedly favoring a new plan from investment companies paulson and company. the rival offer on the table is from a group led by starwood capital. that group agreed to invest up to $905 million in extended stay as part of a reorganization proposal to bring the chain out of bankruptcy protection. >> wilbur ross says he will commit up to $760 million to support virgin money in its bid to buy rbs' granch network. the billionaire investor says he's also vested $100 million in virgin money which is the consumer credit arm of richard branson's virgin group that would give him a 21% stake. you might remember ross teamed up with virgin in 2007 when it attempted to buy lender northern rock. we watch wilbur's moves pretty closely. >> wilbur and branson together. >> personalities are a little different. >> can you think of them on an island hanging out somewhere? >> from wall street to washington, this morning the march jobs number is the talk of the town. the president's top economic advisers hitting the talk show circuit this s
CNBC
Apr 1, 2010 6:00am EDT
in america transformed the whole country, linking america from coast to coast. what's happening in china is that is in the next two years, the country will have 13,000 kilometers of high speed rail. and really, shrinking the country geographical and this means that the inland regions of china will experience extremely robust growth from the property sector to the consumer sector, urbanization will accelerate as a result. so this is one of the most exciting growth areas for china. >> with the high profile nature of the google controversy and, of course, the rio tinto controver controversy, do you think government policy is a significant risk to growth? are the decisions that the government has made with regard to corporate interests, are they counterproductive? >> you know, there are always risks as well as opportunities when it comes to investing in an emerging market like china. but i don't think we can say the government is no longer probusiness. we are seeing foreign capital pouring into china across many different industries. and china is absolutely engaged with the rest of the world
CNBC
Apr 27, 2010 6:00am EDT
it expects to be solidly profitable. in north america a pretax profit of $1.2 billion. a couple other things, ford motor credit profit improving there. it was expected to deteriorate this year. that is no longer the case due to improving residual values on used vehicles. ford ending the quarter with just over $25 billion in cash. again, the headline, joe, ford reporting $2 billion profit for the quarter. 46 cents a share. well above the wall street estimate of 31 cent a share. we'll be talking with ford ceo alan mulally in a little bit and a first on cnbc interview on "power lunch" at 12:10. >> good morning and welcome back to "squawk box." i'm joe kernen along with carl quintanilla. becky quick in studio for the remainder of the show. william ackman, also this morning, the financial regulatory bill hitting a snag. democrating coming up short on a vote that would have started debate on the bill. we'll have austan goolsbee coming up. before we get to that, is it earning central? >> it's earning central and also everything that's happening on wall street. financial regulatory reform bill faili
CNBC
Apr 30, 2010 6:00am EDT
. >>> welcome to omaha. ♪ somewhere in middle america >> berkshire shareholder meeting bigger and better than ever. the state of the economy, fuel prices, climate bill and derivatives. >>> the countdown is on. the commerce department ready to release the data that will be the focus of the markets this morning. has the recession truly ended? our market panel is ready to tackle that question and much more. >> animal spirits. professor robert shiller talks housing, home tax credit and where we stand in the economic recovery. the second hour of "squawk box" begins right now. >>> good morning. welcome to "squawk box" here on cnbc. i'm joe kernen along with becky quick who is in omaha, nebraska, this morning covering the berkshire hathaway shareholder meeting happening this weekend. in studio to keep me company and also -- not helping me with the big 8 that became the big 12 because the big 10 stayed the big 10 but there's 11 teams now. the big 8 when i was there. it became the big 12. that's where missouri and nebraska -- >> you got it right. >> also joining me richard smith, ceo of the parent com
CNBC
Apr 28, 2010 6:00am EDT
goldman sachs is that benefits mainstream america and they didn't do any of that. >> but there was no way -- >> stop it, i don't want the to hear that. they were so rude and nasty that they cut you off every time you tried to do anything. >> yeah, levin did. >> oh, oh, my god. >> he wouldn't let any -- >> the problem is wind bag. >> a large percentage of people in this country who will read about the hearings, maybe didn't watch them, will think less of goldman. >> some of the people that watched will, too. >> it's not their customer base, but does it matter, dick snch. >> no. that was the other thing that i talked to goldman about yesterday. are you seeing any customers leaving the company? they said not only are we not seeing that happen but a lot of our customers have cold us outraged that this is happening to goldman, outraged at what the s.e.c. is doing and they've committed new business to us because of what's happening. now, the people who don't want to do business with them are not calling them. but at this point, goldman is not seeing anything in its business. >> you know what sc
CNBC
Apr 7, 2010 6:00am EDT
menu for $85. >> for all those of you watching in middle america, that is extremely cheap for the four seasons, a $25 lunch is ridiculously -- >> i know i sound crazy, but remarkable compared to the fact that you can't leave that place normally without spending $100, so -- >> per person. >> i don't know what that says about the consumer. >> the key thing that apparently isn't in the ad is that the prefix lunch is in the pool room. it isn't in the grill room -- >> which is less desirable. >> which is where the power lunch -- >> which is where the power players have their lunch. thank you for that distinction, knowing that you are a patron. >> so, you don't think it's deflationary in any way? >> i do think it's a good marketing thing and it does indicate that they are trying to develop business, that they aren't overwhelmed with customers. >> all right. >> good to see you, byron. >> always good to be here. >> get a better seat or a worse seat in the grill room next time. >> thank you for coming in. we'll see you next time, byron wien. that's it for today. make sure you join us tomorrow.
Search Results 0 to 20 of about 21